Analyzing The Competition
Published on: December 7 2022 by Nick Peroni
Analyzing The Competition
Table of Contents
Analyzing The Competition
| startTime | durationTime | text |
| 00:00:00 | 00:00:05 | all right everyone now on this lesson |
| 00:00:02 | 00:00:06 | we're going to get into analyzing the |
| 00:00:05 | 00:00:09 | competition all right so we're working |
| 00:00:06 | 00:00:11 | our way down through a progression as |
| 00:00:09 | 00:00:14 | I've been saying where we went from the |
| 00:00:11 | 00:00:16 | market research to identifying a niche |
| 00:00:14 | 00:00:18 | to validating that niche and now that we |
| 00:00:16 | 00:00:20 | know what niche were in we want to |
| 00:00:18 | 00:00:23 | actually start analyzing our competitors |
| 00:00:20 | 00:00:26 | so that we can get good market insights |
| 00:00:23 | 00:00:28 | on what we want to be doing all right |
| 00:00:26 | 00:00:30 | and I just want to make a note here as |
| 00:00:28 | 00:00:32 | well that I understand everybody goes |
| 00:00:30 | 00:00:34 | through training differently so you may |
| 00:00:32 | 00:00:36 | be the type of person that wants to go |
| 00:00:34 | 00:00:38 | through everything wants to kind of get |
| 00:00:36 | 00:00:41 | the high level with you and then go back |
| 00:00:38 | 00:00:44 | and do it but this is actually meant to |
| 00:00:41 | 00:00:47 | be like step by step foundational stuff |
| 00:00:44 | 00:00:50 | to to actually walk you through |
| 00:00:47 | 00:00:53 | real-world process that works every time |
| 00:00:50 | 00:00:55 | to you know start a successful start a |
| 00:00:53 | 00:00:58 | successful e-commerce business right so |
| 00:00:55 | 00:01:01 | what you should be doing at some point |
| 00:00:58 | 00:01:03 | when you are actually ready to be |
| 00:01:01 | 00:01:05 | starting your store and and be going |
| 00:01:03 | 00:01:07 | through and taking action is at this |
| 00:01:05 | 00:01:09 | point you should have a niche right you |
| 00:01:07 | 00:01:10 | should know what market you're in you |
| 00:01:09 | 00:01:12 | should know what niche you're and you |
| 00:01:10 | 00:01:14 | should have identified some of your |
| 00:01:12 | 00:01:15 | competitors already and validated your |
| 00:01:14 | 00:01:17 | niche and catwalk we're gonna tok about |
| 00:01:15 | 00:01:19 | it in my competitors here but the |
| 00:01:17 | 00:01:21 | validated your niche and like actually |
| 00:01:19 | 00:01:23 | have done the work up until this point |
| 00:01:21 | 00:01:26 | right that's how you're gonna get the |
| 00:01:23 | 00:01:28 | most benefit out of this because now |
| 00:01:26 | 00:01:29 | we're actually you know that's taking |
| 00:01:28 | 00:01:31 | action at every step and at this point |
| 00:01:29 | 00:01:34 | we really start to put some of these |
| 00:01:31 | 00:01:36 | pieces together okay so analyzing the |
| 00:01:34 | 00:01:43 | competition starts with identifying your |
| 00:01:36 | 00:01:45 | competitors and using Google search is |
| 00:01:43 | 00:01:47 | the easiest way right Google searches |
| 00:01:45 | 00:01:49 | your friend it's your best friend as an |
| 00:01:47 | 00:01:52 | entrepreneur that is using Google search |
| 00:01:49 | 00:01:54 | and it's really not very difficult okay |
| 00:01:52 | 00:01:57 | you can yeah I mentioned before that |
| 00:01:54 | 00:01:58 | every Shopify store right and it doesn't |
| 00:01:57 | 00:02:01 | mean that you only have to look at |
| 00:01:58 | 00:02:02 | Shopify stores but that's what I will |
| 00:02:01 | 00:02:04 | get and that's what I suggest you will |
| 00:02:02 | 00:02:06 | get cuz I think you should build a |
| 00:02:04 | 00:02:07 | Shopify store for your business and so |
| 00:02:06 | 00:02:11 | you might as well look at Shopify stores |
| 00:02:07 | 00:02:14 | so you can you can have a Apple to act |
| 00:02:11 | 00:02:17 | comparison right you go to Google and |
| 00:02:14 | 00:02:20 | you type in my Shopify dot-com okay |
| 00:02:17 | 00:02:23 | because every store is hosted on |
| 00:02:20 | 00:02:24 | Shopify's server so they're all every |
| 00:02:23 | 00:02:27 | store and you'll see this when you sign |
| 00:02:24 | 00:02:30 | up with Shopify you get a root domain of |
| 00:02:27 | 00:02:33 | my Shopify calm okay so if you type in |
| 00:02:30 | 00:02:36 | my Shopify calm colon and then enter |
| 00:02:33 | 00:02:37 | your niche keyword to search well Google |
| 00:02:36 | 00:02:41 | is gonna do is it's gonna go basically |
| 00:02:37 | 00:02:42 | look at every Shopify store that's out |
| 00:02:41 | 00:02:45 | there you know for that domain that |
| 00:02:42 | 00:02:48 | you're using my Shopify calm and |
| 00:02:45 | 00:02:51 | identify which ones are using that |
| 00:02:48 | 00:02:54 | keyword so it's a great way very simple |
| 00:02:51 | 00:02:57 | way to be able to go through and get |
| 00:02:54 | 00:02:59 | examples okay so you can see the example |
| 00:02:57 | 00:03:02 | here would be my Shopify comm : |
| 00:02:59 | 00:03:04 | cats right and you search is exactly |
| 00:03:02 | 00:03:07 | like that in your Google search bar and |
| 00:03:04 | 00:03:10 | you'll return all the stores that have |
| 00:03:07 | 00:03:12 | to do with cats now one thing to keep in |
| 00:03:10 | 00:03:15 | mind not every store is going to be a |
| 00:03:12 | 00:03:16 | good store to use as a competitor right |
| 00:03:15 | 00:03:21 | and I'm going to tok about that in a |
| 00:03:16 | 00:03:24 | second how you can identify a store that |
| 00:03:21 | 00:03:26 | is good to use as a model competitor |
| 00:03:24 | 00:03:28 | because you know if this is gonna return |
| 00:03:26 | 00:03:30 | all search results so there could be a |
| 00:03:28 | 00:03:32 | store that has no idea what they're |
| 00:03:30 | 00:03:33 | doing and is a terrible example and |
| 00:03:32 | 00:03:36 | obviously you don't want to use them as |
| 00:03:33 | 00:03:39 | a competitor you want to identify what |
| 00:03:36 | 00:03:42 | our top competitors and the way that |
| 00:03:39 | 00:03:44 | we're really going to make the |
| 00:03:42 | 00:03:46 | differentiation is in the stores that |
| 00:03:44 | 00:03:47 | are getting a lot of traffic okay |
| 00:03:46 | 00:03:49 | because if the store is getting traffic |
| 00:03:47 | 00:03:50 | then they're doing something right |
| 00:03:49 | 00:03:52 | people are visiting that store for a |
| 00:03:50 | 00:03:55 | reason either they're paying for that |
| 00:03:52 | 00:03:57 | traffic in which case they have to |
| 00:03:55 | 00:03:59 | really you know they have to be spending |
| 00:03:57 | 00:04:00 | money and they're only gonna be spending |
| 00:03:59 | 00:04:01 | money if they're getting it returned |
| 00:04:00 | 00:04:03 | profitably right so it means they're |
| 00:04:01 | 00:04:06 | doing something right the stores working |
| 00:04:03 | 00:04:08 | or if they're getting a lot of organic |
| 00:04:06 | 00:04:12 | traffic then that means that they are |
| 00:04:08 | 00:04:14 | they feel a really good site and they're |
| 00:04:12 | 00:04:17 | getting a really positive results and |
| 00:04:14 | 00:04:18 | feedback from their users and so Google |
| 00:04:17 | 00:04:21 | is ranking them higher in the search |
| 00:04:18 | 00:04:23 | engine so I'm gonna show you exactly how |
| 00:04:21 | 00:04:24 | you can identify that once you start to |
| 00:04:23 | 00:04:27 | search around |
| 00:04:24 | 00:04:29 | but first I want to tok about built |
| 00:04:27 | 00:04:30 | with just based on the order that I had |
| 00:04:29 | 00:04:33 | these resources I'm going to give you |
| 00:04:30 | 00:04:35 | I'm gonna give you a few resources of |
| 00:04:33 | 00:04:37 | how you start to analyze your |
| 00:04:35 | 00:04:39 | competitors and we're gonna use inspire |
| 00:04:37 | 00:04:42 | uplift as an example okay I mentioned |
| 00:04:39 | 00:04:44 | this earlier they're a basically a |
| 00:04:42 | 00:04:47 | general dropshipping store that's doing |
| 00:04:44 | 00:04:49 | very well they have a really good store |
| 00:04:47 | 00:04:51 | and really good brand so we're gonna |
| 00:04:49 | 00:04:53 | look at this as our example and I'm |
| 00:04:51 | 00:04:53 | going to be using them for what we go |
| 00:04:53 | 00:04:56 | through here |
| 00:04:53 | 00:04:59 | so the number one tool this is a really |
| 00:04:56 | 00:05:01 | really cool tool called built with calm |
| 00:04:59 | 00:05:03 | where you can look at any website and |
| 00:05:01 | 00:05:07 | basically see what their tiknology |
| 00:05:03 | 00:05:09 | stack is by entering it in built with is |
| 00:05:07 | 00:05:11 | gonna analyze them within a second and |
| 00:05:09 | 00:05:12 | give you all this stuff okay now I don't |
| 00:05:11 | 00:05:14 | really care about any of this stuff I |
| 00:05:12 | 00:05:17 | care about the tiknology profile |
| 00:05:14 | 00:05:20 | because this is how you can see exactly |
| 00:05:17 | 00:05:22 | you know what they're built with right |
| 00:05:20 | 00:05:24 | just like it sounds so the reason that |
| 00:05:22 | 00:05:28 | that's powerful is because as you can |
| 00:05:24 | 00:05:30 | see this now you get an idea of what you |
| 00:05:28 | 00:05:32 | could use right especially as you're |
| 00:05:30 | 00:05:34 | getting started you may have no idea so |
| 00:05:32 | 00:05:37 | these are all like it breaks it down |
| 00:05:34 | 00:05:40 | into sections analytiks and tracking and |
| 00:05:37 | 00:05:44 | then you'll see the widgets and then |
| 00:05:40 | 00:05:45 | you'll see ecommerce so all some of this |
| 00:05:44 | 00:05:48 | stuff is pretty standard it's gonna be |
| 00:05:45 | 00:05:51 | like on any site you know but some of it |
| 00:05:48 | 00:05:53 | is like specific to what they're doing |
| 00:05:51 | 00:05:56 | like reversion it's an affiliate |
| 00:05:53 | 00:05:57 | tracking management platform so if you |
| 00:05:56 | 00:05:59 | want to use affiliates on your site you |
| 00:05:57 | 00:06:02 | don't know that version is a good |
| 00:05:59 | 00:06:05 | program you can go check out shoe laces |
| 00:06:02 | 00:06:09 | automated retargeting option clavo is an |
| 00:06:05 | 00:06:11 | email an email ecommerce platform ok so |
| 00:06:09 | 00:06:13 | there's there's good stuff here that |
| 00:06:11 | 00:06:15 | lets you know and I'm not going to go |
| 00:06:13 | 00:06:18 | through every single one but you can you |
| 00:06:15 | 00:06:20 | can get an idea here right you can see |
| 00:06:18 | 00:06:21 | what they're linking in with what |
| 00:06:20 | 00:06:23 | they're using again some of this stuff |
| 00:06:21 | 00:06:25 | is gonna be pretty standard but when you |
| 00:06:23 | 00:06:28 | come down the e-commerce okay we can see |
| 00:06:25 | 00:06:30 | that they are on Shopify they're using |
| 00:06:28 | 00:06:33 | something called the kajabi theme so you |
| 00:06:30 | 00:06:36 | know the theme we see there on the |
| 00:06:33 | 00:06:36 | Shopify Plus plan so obviously we know |
| 00:06:36 | 00:06:38 | there's |
| 00:06:36 | 00:06:40 | something right because this is a $2,000 |
| 00:06:38 | 00:06:42 | a month plan and you're only paying for |
| 00:06:40 | 00:06:44 | that if your store is making probably |
| 00:06:42 | 00:06:47 | you know six figures plus a month which |
| 00:06:44 | 00:06:50 | I happen to know inspire uplift is doing |
| 00:06:47 | 00:06:51 | well over six figures a month but anyway |
| 00:06:50 | 00:06:53 | like if you see a store on the Shopify |
| 00:06:51 | 00:06:55 | Plus plan then they were doing something |
| 00:06:53 | 00:06:58 | right to be able to afford that payment |
| 00:06:55 | 00:07:00 | every month okay they're using Wilkes |
| 00:06:58 | 00:07:02 | this is a review app to use in searching |
| 00:07:00 | 00:07:04 | guys which is a search app for Shopify |
| 00:07:02 | 00:07:06 | but these are all apps that they're |
| 00:07:04 | 00:07:09 | using so you're getting insight into |
| 00:07:06 | 00:07:11 | exactly how they built their store to |
| 00:07:09 | 00:07:14 | function the way it does which is |
| 00:07:11 | 00:07:17 | clearly working for them right so that's |
| 00:07:14 | 00:07:19 | fantastik feedback on you know |
| 00:07:17 | 00:07:21 | understanding what goes into building a |
| 00:07:19 | 00:07:22 | store and then a lot of this stuff down |
| 00:07:21 | 00:07:24 | here is very tiknical even I don't |
| 00:07:22 | 00:07:26 | really you know get into most of this |
| 00:07:24 | 00:07:30 | but you can you really get a good |
| 00:07:26 | 00:07:32 | insight and a look into what that store |
| 00:07:30 | 00:07:33 | is built with so that's that's really |
| 00:07:32 | 00:07:36 | powerful information to have as you're |
| 00:07:33 | 00:07:39 | setting up and building your store okay |
| 00:07:36 | 00:07:40 | now the next one is similar web all |
| 00:07:39 | 00:07:44 | right in similar web is the one that you |
| 00:07:40 | 00:07:47 | can use to identify whether a competitor |
| 00:07:44 | 00:07:48 | is worth following you're not so maybe |
| 00:07:47 | 00:07:50 | these are a little out of order but |
| 00:07:48 | 00:07:51 | similar web I use a lot there's two ways |
| 00:07:50 | 00:07:53 | you can use it one they have their |
| 00:07:51 | 00:07:59 | website where you can just put in the |
| 00:07:53 | 00:08:01 | store that you want to search right okay |
| 00:07:59 | 00:08:04 | and I'll show you some of the basic |
| 00:08:01 | 00:08:05 | information it brings up here or - and |
| 00:08:04 | 00:08:08 | this is just on this free plan they do |
| 00:08:05 | 00:08:09 | have a paid plan but number two is they |
| 00:08:08 | 00:08:12 | have a free extension this is the |
| 00:08:09 | 00:08:14 | similar web extension which allows you |
| 00:08:12 | 00:08:16 | as your browsing to just easily click |
| 00:08:14 | 00:08:18 | this and see if the site is worth paying |
| 00:08:16 | 00:08:20 | attention to and I use this extension |
| 00:08:18 | 00:08:22 | all the time if I'm searching on Google |
| 00:08:20 | 00:08:26 | and looking at competitors the number |
| 00:08:22 | 00:08:28 | one way that I can tell if a website is |
| 00:08:26 | 00:08:30 | worth my time doing further |
| 00:08:28 | 00:08:33 | investigation is how many visitors |
| 00:08:30 | 00:08:35 | they're getting a lot right if a site is |
| 00:08:33 | 00:08:38 | getting two million visitors in a month |
| 00:08:35 | 00:08:40 | they're doing something right okay these |
| 00:08:38 | 00:08:43 | guys are probably doing seven figures |
| 00:08:40 | 00:08:45 | plus in a month if they're getting two |
| 00:08:43 | 00:08:46 | million visitors right and I say that |
| 00:08:45 | 00:08:48 | based on just knowing the e-commerce |
| 00:08:46 | 00:08:49 | industry and then kind of how this works |
| 00:08:48 | 00:08:50 | but you |
| 00:08:49 | 00:08:52 | no matter what it doesn't take a genius |
| 00:08:50 | 00:08:54 | to know that if the site is getting 2 |
| 00:08:52 | 00:08:56 | million visitors a month or worth |
| 00:08:54 | 00:09:00 | walking yet and following now what's a |
| 00:08:56 | 00:09:02 | bare minimal number I would say that you |
| 00:09:00 | 00:09:05 | know for modeling competitors I would |
| 00:09:02 | 00:09:08 | say that the minimal number that that |
| 00:09:05 | 00:09:10 | you should really consider as like |
| 00:09:08 | 00:09:13 | something worth looking at is probably |
| 00:09:10 | 00:09:15 | around twenty five thousand right and of |
| 00:09:13 | 00:09:16 | course there are a lot of stores that |
| 00:09:15 | 00:09:19 | are doing much much bigger numbers but |
| 00:09:16 | 00:09:20 | the stores getting twenty five thousand |
| 00:09:19 | 00:09:23 | visitors a month and you're brand new |
| 00:09:20 | 00:09:25 | it's still a good indication of like |
| 00:09:23 | 00:09:28 | something that's working right because |
| 00:09:25 | 00:09:30 | that twenty five thousand visitors is |
| 00:09:28 | 00:09:32 | again it's either organic which means I |
| 00:09:30 | 00:09:33 | mean if you're getting twenty five |
| 00:09:32 | 00:09:36 | thousand visitors a month organically |
| 00:09:33 | 00:09:39 | that's that's fantastik if you are |
| 00:09:36 | 00:09:40 | paying for that $25,000 visitors you got |
| 00:09:39 | 00:09:42 | to think about it like this |
| 00:09:40 | 00:09:44 | even at fifty cents a click right you |
| 00:09:42 | 00:09:47 | know that means that they're spending |
| 00:09:44 | 00:09:49 | you know thirteen thousand dollars a |
| 00:09:47 | 00:09:51 | month in ads right and so somebody's |
| 00:09:49 | 00:09:53 | only gonna be spending thirteen thousand |
| 00:09:51 | 00:09:56 | dollars a month and ads if they're |
| 00:09:53 | 00:09:58 | getting some type of return on that okay |
| 00:09:56 | 00:10:00 | so obviously the higher the better but I |
| 00:09:58 | 00:10:01 | would say you know as a minimum at least |
| 00:10:00 | 00:10:04 | be looking for stories that are doing |
| 00:10:01 | 00:10:06 | twenty five thirty thousand visitors a |
| 00:10:04 | 00:10:08 | month estimated and that's kind of what |
| 00:10:06 | 00:10:11 | I look for right I don't really care |
| 00:10:08 | 00:10:12 | about the global rank or you know |
| 00:10:11 | 00:10:15 | there's some of this other stuff but the |
| 00:10:12 | 00:10:19 | visits is just a quick indication of of |
| 00:10:15 | 00:10:22 | how they're doing okay now it's the same |
| 00:10:19 | 00:10:23 | thing if you look here same thing to |
| 00:10:22 | 00:10:26 | look here right so you can either um go |
| 00:10:23 | 00:10:28 | to similar web and actually well or you |
| 00:10:26 | 00:10:30 | can just be on their website and click |
| 00:10:28 | 00:10:31 | through the extension because it has all |
| 00:10:30 | 00:10:34 | this stuff here and I generally like to |
| 00:10:31 | 00:10:36 | get it here so when you go to referrals |
| 00:10:34 | 00:10:38 | I don't use this too much I mean |
| 00:10:36 | 00:10:40 | referrals can be cool because it shows |
| 00:10:38 | 00:10:42 | you like the top referring sites you see |
| 00:10:40 | 00:10:44 | the arrow in it shows you the sites that |
| 00:10:42 | 00:10:46 | are referring people in to inspire |
| 00:10:44 | 00:10:49 | uplift so you could look at these sites |
| 00:10:46 | 00:10:51 | if you know if you wanted to open them |
| 00:10:49 | 00:10:53 | like it will open this up in a new tab |
| 00:10:51 | 00:10:56 | seller pulse you know it seems to be |
| 00:10:53 | 00:10:58 | getting quite a quite a few visits so |
| 00:10:56 | 00:11:00 | clearly but see this is skewed right |
| 00:10:58 | 00:11:02 | because I want to find winning products |
| 00:11:00 | 00:11:05 | so basically this is a |
| 00:11:02 | 00:11:07 | this is a scraping app that's that's |
| 00:11:05 | 00:11:10 | using inspire uplift as an example of |
| 00:11:07 | 00:11:12 | finding winning products so one thing |
| 00:11:10 | 00:11:16 | that you can see they're getting this is |
| 00:11:12 | 00:11:19 | that remember that symbol from here this |
| 00:11:16 | 00:11:21 | is their email provider klaviyo so we |
| 00:11:19 | 00:11:25 | can see that they are getting quite a |
| 00:11:21 | 00:11:28 | bit of traffic from from email right |
| 00:11:25 | 00:11:31 | anyway moving on the sources all right |
| 00:11:28 | 00:11:33 | this is good because it shows you in in |
| 00:11:31 | 00:11:36 | these categories where they're getting |
| 00:11:33 | 00:11:37 | their traffic from so a large portion of |
| 00:11:36 | 00:11:39 | that is coming from social they're |
| 00:11:37 | 00:11:40 | actually doing very well on direct |
| 00:11:39 | 00:11:42 | traffic almost a quarter of their |
| 00:11:40 | 00:11:44 | traffic is direct which means it's |
| 00:11:42 | 00:11:46 | coming directly from people searching in |
| 00:11:44 | 00:11:47 | Google or Yahoo or Bing or something |
| 00:11:46 | 00:11:50 | like that |
| 00:11:47 | 00:11:52 | I'm sorry no I'm sorry correction this |
| 00:11:50 | 00:11:55 | is search traffic this is the Rec |
| 00:11:52 | 00:11:58 | director Opik is people who are entering |
| 00:11:55 | 00:11:59 | their website indirectly like if I come |
| 00:11:58 | 00:12:03 | up here and I type in inspire uplift |
| 00:11:59 | 00:12:04 | calm and so I know the website so again |
| 00:12:03 | 00:12:09 | though this is really good because what |
| 00:12:04 | 00:12:11 | this means is this means that people are |
| 00:12:09 | 00:12:13 | there their brand is you know they have |
| 00:12:11 | 00:12:15 | a loyal following right they have a lot |
| 00:12:13 | 00:12:17 | of returning customers they have a lot |
| 00:12:15 | 00:12:18 | of people that are coming back to their |
| 00:12:17 | 00:12:21 | site to shop around because they're |
| 00:12:18 | 00:12:25 | coming back direct to their site right |
| 00:12:21 | 00:12:27 | and then display is display advertising |
| 00:12:25 | 00:12:31 | like advertising native ads across |
| 00:12:27 | 00:12:34 | different sites so you want to generally |
| 00:12:31 | 00:12:38 | see as an indicator that it's something |
| 00:12:34 | 00:12:40 | that you can that you can get value out |
| 00:12:38 | 00:12:42 | of what they're doing is if it's social |
| 00:12:40 | 00:12:44 | because if they're getting direct |
| 00:12:42 | 00:12:45 | traffic that doesn't really help you |
| 00:12:44 | 00:12:48 | much it's you're not going to be able to |
| 00:12:45 | 00:12:50 | emulate direct traffic search traffic |
| 00:12:48 | 00:12:51 | could even be hard display like but if |
| 00:12:50 | 00:12:53 | they're getting most of their traffic |
| 00:12:51 | 00:12:55 | from social that's good because that |
| 00:12:53 | 00:12:57 | lets you know you can run social traffic |
| 00:12:55 | 00:12:58 | too you can run ads like we're going to |
| 00:12:57 | 00:13:01 | tok about in this course too and and |
| 00:12:58 | 00:13:04 | you can try to emulate what they're |
| 00:13:01 | 00:13:06 | doing Geel is going to show you the top |
| 00:13:04 | 00:13:08 | countries where they're selling like |
| 00:13:06 | 00:13:10 | they're selling worldwide for sure but |
| 00:13:08 | 00:13:12 | you can see the majority of their |
| 00:13:10 | 00:13:14 | traffic is coming from the top five |
| 00:13:12 | 00:13:15 | these are generally considered the |
| 00:13:14 | 00:13:18 | top-tier countries for |
| 00:13:15 | 00:13:20 | for like marketplaces of people pie |
| 00:13:18 | 00:13:25 | search just gives you an idea of |
| 00:13:20 | 00:13:28 | keywords now what I will say is you can |
| 00:13:25 | 00:13:32 | get better sometimes better results from |
| 00:13:28 | 00:13:34 | what keywords are working on the actual |
| 00:13:32 | 00:13:36 | actual site itself here because it gives |
| 00:13:34 | 00:13:39 | you a little bit more of a breakdown but |
| 00:13:36 | 00:13:41 | again so here's an interesting thing to |
| 00:13:39 | 00:13:43 | point out right they are running |
| 00:13:41 | 00:13:45 | campaigns for their name so they know |
| 00:13:43 | 00:13:46 | people are sometimes searching their |
| 00:13:45 | 00:13:49 | name inspire uplift and so they're |
| 00:13:46 | 00:13:51 | running an actual ad to make sure when |
| 00:13:49 | 00:13:57 | people search that that they're coming |
| 00:13:51 | 00:13:57 | to their store coming back to here |
| 00:13:58 | 00:14:04 | wherever yeah okay social social brings |
| 00:14:01 | 00:14:06 | down where within that social remember |
| 00:14:04 | 00:14:08 | we saw here that they're getting a lot |
| 00:14:06 | 00:14:09 | of their traffic from social this is |
| 00:14:08 | 00:14:12 | interesting because it shows you YouTube |
| 00:14:09 | 00:14:14 | right now is is one of their main |
| 00:14:12 | 00:14:15 | traffic sources and then next is |
| 00:14:14 | 00:14:18 | Pinterest and Facebook I would have |
| 00:14:15 | 00:14:20 | expected Facebook to be much larger so |
| 00:14:18 | 00:14:22 | it's interesting to see that this is |
| 00:14:20 | 00:14:24 | where they're getting lesser traffic so |
| 00:14:22 | 00:14:26 | you know that if you really want to see |
| 00:14:24 | 00:14:28 | you know what they're doing here you're |
| 00:14:26 | 00:14:30 | looking at their top three sources |
| 00:14:28 | 00:14:33 | YouTube Pinterest and Facebook to kind |
| 00:14:30 | 00:14:35 | of go analyze where their social traffic |
| 00:14:33 | 00:14:38 | is coming from and what they're doing |
| 00:14:35 | 00:14:39 | ads top publishers so you can see |
| 00:14:38 | 00:14:41 | they're running a lot of ads on YouTube |
| 00:14:39 | 00:14:44 | and they're running ads on the Google |
| 00:14:41 | 00:14:45 | Display Network okay so this is really |
| 00:14:44 | 00:14:48 | good information right like this is |
| 00:14:45 | 00:14:50 | giving you direct insight into what |
| 00:14:48 | 00:14:54 | they're doing and then you can even see |
| 00:14:50 | 00:14:57 | some related so not all these will be |
| 00:14:54 | 00:15:00 | completely related but luke Raycom is a |
| 00:14:57 | 00:15:02 | good one next deal shop right so like if |
| 00:15:00 | 00:15:04 | I open up blue Krait calm I'm getting |
| 00:15:02 | 00:15:07 | another store that's similar to them |
| 00:15:04 | 00:15:09 | that I can that I can analyze I can come |
| 00:15:07 | 00:15:11 | here to similar web and I can see all |
| 00:15:09 | 00:15:13 | right they're getting 300,000 visits a |
| 00:15:11 | 00:15:15 | month these guys are are worth analyzing |
| 00:15:13 | 00:15:18 | and checking out what they're doing |
| 00:15:15 | 00:15:19 | they're getting ninety five percent of |
| 00:15:18 | 00:15:21 | the traffic from Facebook right so you |
| 00:15:19 | 00:15:25 | can see there's there's different stuff |
| 00:15:21 | 00:15:28 | that's going on in each one and that's |
| 00:15:25 | 00:15:29 | how similar web can give you really good |
| 00:15:28 | 00:15:33 | insights alright and again |
| 00:15:29 | 00:15:35 | it's basically the same thing here it's |
| 00:15:33 | 00:15:43 | just a different format of how they |
| 00:15:35 | 00:15:44 | break it down here okay now back to all |
| 00:15:43 | 00:15:46 | right the next one |
| 00:15:44 | 00:15:49 | what's Dorothy this is a really quick |
| 00:15:46 | 00:15:51 | one very obvious if you're ever just |
| 00:15:49 | 00:15:53 | curious about a theme you can look it up |
| 00:15:51 | 00:15:55 | on here now it won't always work if a |
| 00:15:53 | 00:15:57 | store has custom built theme and I'll |
| 00:15:55 | 00:15:59 | just tell you custom built theme but in |
| 00:15:57 | 00:16:00 | this case we can see the theme that |
| 00:15:59 | 00:16:03 | they're using kajabi so you could go and |
| 00:16:00 | 00:16:05 | look up Konami by just going to Google |
| 00:16:03 | 00:16:07 | and typing in Shopify Kazami theme and |
| 00:16:05 | 00:16:10 | you would be able to go get that same |
| 00:16:07 | 00:16:12 | theme if you wanted to and then the |
| 00:16:10 | 00:16:16 | final resource will tok about inspire |
| 00:16:12 | 00:16:19 | calm spot who is not always going to be |
| 00:16:16 | 00:16:22 | helpful because this is based off of |
| 00:16:19 | 00:16:23 | keywords right but it can it can give |
| 00:16:22 | 00:16:26 | you some good insight and it's worth |
| 00:16:23 | 00:16:27 | checking out because if your competitors |
| 00:16:26 | 00:16:29 | are using keywords it's gonna give you |
| 00:16:27 | 00:16:31 | good insight into what what they're |
| 00:16:29 | 00:16:33 | doing on Google right how they're |
| 00:16:31 | 00:16:36 | advertise it okay and this is just again |
| 00:16:33 | 00:16:41 | the free version you can get deeper into |
| 00:16:36 | 00:16:42 | paid version but so coming down the one |
| 00:16:41 | 00:16:44 | that I really like to look at is here |
| 00:16:42 | 00:16:47 | top keywords okay that's kind of what I |
| 00:16:44 | 00:16:49 | like spy food for the most because you |
| 00:16:47 | 00:16:52 | can just get insight into top keywords |
| 00:16:49 | 00:16:54 | and this is actually this is valuable |
| 00:16:52 | 00:16:56 | insight into how this store is |
| 00:16:54 | 00:16:58 | performing because these being their top |
| 00:16:56 | 00:17:00 | organic keywords are probably good |
| 00:16:58 | 00:17:02 | indicators that these are some of the |
| 00:17:00 | 00:17:04 | top selling products now that doesn't |
| 00:17:02 | 00:17:07 | mean that you are gonna be able to go |
| 00:17:04 | 00:17:08 | sell the same product but it means that |
| 00:17:07 | 00:17:10 | you could go and looking at these |
| 00:17:08 | 00:17:12 | products and how they have was set up on |
| 00:17:10 | 00:17:14 | their store to get a good indication of |
| 00:17:12 | 00:17:16 | okay what was a I was this a winning |
| 00:17:14 | 00:17:18 | campaign for them why did it do so well |
| 00:17:16 | 00:17:20 | how is their SEO set up that they were |
| 00:17:18 | 00:17:22 | able to get this organic traffic right |
| 00:17:20 | 00:17:25 | and then you can see the paid keywords |
| 00:17:22 | 00:17:28 | that they're bidding on right here these |
| 00:17:25 | 00:17:29 | numbers I think I mean you know I don't |
| 00:17:28 | 00:17:31 | know how accurate these numbers as it |
| 00:17:29 | 00:17:32 | says they're spending nine thousand |
| 00:17:31 | 00:17:35 | dollars a month right now on terms |
| 00:17:32 | 00:17:38 | snoring and if you go down even further |
| 00:17:35 | 00:17:40 | you can get an example of one of their |
| 00:17:38 | 00:17:41 | ads right so here's one where they're |
| 00:17:40 | 00:17:44 | advertising you can time |
| 00:17:41 | 00:17:46 | the word nose purifier right so those |
| 00:17:44 | 00:17:48 | are some some cool things that you can |
| 00:17:46 | 00:17:50 | look at and again you can get deeper |
| 00:17:48 | 00:17:53 | into this you can see all their ads with |
| 00:17:50 | 00:17:57 | like the paid version and and break it |
| 00:17:53 | 00:17:59 | down even further so Google is a massive |
| 00:17:57 | 00:18:01 | traffic source Facebook is a massive |
| 00:17:59 | 00:18:03 | traffic source like you want to be able |
| 00:18:01 | 00:18:07 | to gather as much data and intelligence |
| 00:18:03 | 00:18:09 | as you can on on your competitors ok now |
| 00:18:07 | 00:18:11 | moving into it a step further writing |
| 00:18:09 | 00:18:14 | and kind of looking at what does this |
| 00:18:11 | 00:18:15 | whole process look like alright when |
| 00:18:14 | 00:18:17 | you're analyzing your competition we |
| 00:18:15 | 00:18:20 | just toked about finding out their |
| 00:18:17 | 00:18:22 | traffic sources right you can look at |
| 00:18:20 | 00:18:24 | their social media pages if you scroll |
| 00:18:22 | 00:18:27 | to the they have right at the top |
| 00:18:24 | 00:18:28 | generally any now we saw they're getting |
| 00:18:27 | 00:18:32 | most of their traffic from YouTube right |
| 00:18:28 | 00:18:33 | YouTube Pinterest and Facebook so these |
| 00:18:32 | 00:18:35 | are probably the ones that we want to |
| 00:18:33 | 00:18:36 | look at as a start I mean it doesn't |
| 00:18:35 | 00:18:38 | hurt to look at all of them but |
| 00:18:36 | 00:18:42 | obviously we want to look at the top |
| 00:18:38 | 00:18:45 | ones okay so we can come to the YouTube |
| 00:18:42 | 00:18:47 | channel they there are obviously more |
| 00:18:45 | 00:18:49 | running ads here than I think focus on |
| 00:18:47 | 00:18:52 | and organic because they don't have that |
| 00:18:49 | 00:18:54 | many subscribers but again it's you |
| 00:18:52 | 00:18:55 | could come here and kind of check out |
| 00:18:54 | 00:18:57 | their videos and see how they're |
| 00:18:55 | 00:18:59 | advertising and what they're doing with |
| 00:18:57 | 00:19:01 | these videos Pinterest you can come to |
| 00:18:59 | 00:19:03 | the Pinterest board they are clearly |
| 00:19:01 | 00:19:05 | doing well on Pinterest with whatever |
| 00:19:03 | 00:19:06 | their picture strategy is I mean they're |
| 00:19:05 | 00:19:09 | getting 10 million plus views a month |
| 00:19:06 | 00:19:11 | that's that's really cool and so you can |
| 00:19:09 | 00:19:15 | see how are they breaking this down what |
| 00:19:11 | 00:19:17 | are they doing here same thing with |
| 00:19:15 | 00:19:20 | Facebook you can come to their Facebook |
| 00:19:17 | 00:19:22 | page and and see what they're doing in |
| 00:19:20 | 00:19:25 | terms of what kind of content they're |
| 00:19:22 | 00:19:26 | posting how they're interacting with |
| 00:19:25 | 00:19:29 | their audience and here's a cool thing |
| 00:19:26 | 00:19:31 | as well here is you can click on this |
| 00:19:29 | 00:19:34 | info and ads button now it looks like |
| 00:19:31 | 00:19:36 | they're not actually running any active |
| 00:19:34 | 00:19:39 | ads right now which is it which is |
| 00:19:36 | 00:19:41 | interesting but if they were running |
| 00:19:39 | 00:19:44 | active ads you would be able to see what |
| 00:19:41 | 00:19:46 | ads they're running right here so you |
| 00:19:44 | 00:19:48 | can come to your competitor and actually |
| 00:19:46 | 00:19:51 | take a look at their ads which is |
| 00:19:48 | 00:19:54 | somewhat newer to Facebook and actually |
| 00:19:51 | 00:19:55 | it's a powerful thing that you can use |
| 00:19:54 | 00:19:57 | if you're spying on your compare |
| 00:19:55 | 00:20:02 | we'll come look at what ads they're |
| 00:19:57 | 00:20:04 | running in any region of the world now |
| 00:20:02 | 00:20:05 | once you've gone through this process |
| 00:20:04 | 00:20:07 | okay |
| 00:20:05 | 00:20:10 | what we're working up to here is reverse |
| 00:20:07 | 00:20:13 | engineering alright so the idea of |
| 00:20:10 | 00:20:17 | reverse engineering is basically going |
| 00:20:13 | 00:20:20 | through their actual sales funnel right |
| 00:20:17 | 00:20:25 | from page to page from ad to page so |
| 00:20:20 | 00:20:27 | that you can figure out what is you know |
| 00:20:25 | 00:20:29 | so that you can figure out what is |
| 00:20:27 | 00:20:32 | working and like backwards track into |
| 00:20:29 | 00:20:34 | into breaking down each piece and |
| 00:20:32 | 00:20:35 | understanding why it works and how you |
| 00:20:34 | 00:20:37 | could do something similar or even how |
| 00:20:35 | 00:20:37 | you could do something better in your |
| 00:20:37 | 00:20:40 | own business |
| 00:20:37 | 00:20:42 | sign up to their email list because then |
| 00:20:40 | 00:20:43 | you'll get their emails and you'll see |
| 00:20:42 | 00:20:45 | how they're marketing through email and |
| 00:20:43 | 00:20:47 | then look for their advertisement |
| 00:20:45 | 00:20:50 | something once you start visiting their |
| 00:20:47 | 00:20:52 | store you're going to you're gonna see |
| 00:20:50 | 00:20:55 | that you'll get advertisements okay |
| 00:20:52 | 00:20:57 | because they'll be retargeting you so |
| 00:20:55 | 00:21:01 | here's the process of reverse |
| 00:20:57 | 00:21:03 | engineering alright it's the process of |
| 00:21:01 | 00:21:06 | going through and breaking it down piece |
| 00:21:03 | 00:21:08 | by piece right like your ads to the |
| 00:21:06 | 00:21:11 | actual product page to the car page to |
| 00:21:08 | 00:21:12 | the checkout page and then seeing what |
| 00:21:11 | 00:21:17 | does this all look like what what are |
| 00:21:12 | 00:21:18 | they doing you okay so we already toked |
| 00:21:17 | 00:21:20 | about this step one is you find somebody |
| 00:21:18 | 00:21:21 | that's doing well with their online |
| 00:21:20 | 00:21:24 | system we just toked about how to |
| 00:21:21 | 00:21:25 | identify your competitors are doing well |
| 00:21:24 | 00:21:27 | and then you're using market |
| 00:21:25 | 00:21:29 | intelligence to reverse-engineer their |
| 00:21:27 | 00:21:31 | system which basically just means you |
| 00:21:29 | 00:21:33 | are taking it step by step and studying |
| 00:21:31 | 00:21:37 | the process alright we toked about |
| 00:21:33 | 00:21:39 | using similar web to identify right like |
| 00:21:37 | 00:21:42 | going to Tesla and seeing okay this is a |
| 00:21:39 | 00:21:45 | fantastik site to analyze if I am in the |
| 00:21:42 | 00:21:47 | same industry comparing where the |
| 00:21:45 | 00:21:51 | majority of the traffic is coming from |
| 00:21:47 | 00:21:54 | and how their traffic sources work and |
| 00:21:51 | 00:21:59 | then the next step is actually going |
| 00:21:54 | 00:22:01 | through the sales process okay and not |
| 00:21:59 | 00:22:06 | just going through a half-assedly but |
| 00:22:01 | 00:22:08 | actually looking at each page and trying |
| 00:22:06 | 00:22:10 | to you know identify what |
| 00:22:08 | 00:22:13 | working for them okay so if I come to |
| 00:22:10 | 00:22:15 | inspire uplift for example right and I |
| 00:22:13 | 00:22:21 | click on say well let's say they're |
| 00:22:15 | 00:22:25 | selling oh I mean you could really start |
| 00:22:21 | 00:22:27 | anywhere but you could you could try to |
| 00:22:25 | 00:22:29 | find one of their products that they're |
| 00:22:27 | 00:22:33 | doing or you could just sell here now |
| 00:22:29 | 00:22:35 | I'm on my laptop right now so it's |
| 00:22:33 | 00:22:37 | important to remember that you want to |
| 00:22:35 | 00:22:38 | look at their store on mobile as well |
| 00:22:37 | 00:22:41 | because it's gonna look very different |
| 00:22:38 | 00:22:43 | on mobile as it does the laptop but I |
| 00:22:41 | 00:22:45 | can only show you laptop as I'm |
| 00:22:43 | 00:22:47 | recording this so anyway you want to |
| 00:22:45 | 00:22:48 | take note of how they have the product |
| 00:22:47 | 00:22:50 | page set up looking at their pictures |
| 00:22:48 | 00:22:53 | see how they have the customer reviews |
| 00:22:50 | 00:22:56 | in the top here how are they naming |
| 00:22:53 | 00:22:58 | their items okay they have the sale |
| 00:22:56 | 00:23:01 | price the free shipping in here that |
| 00:22:58 | 00:23:02 | says not sold and stores the way that |
| 00:23:01 | 00:23:05 | they're setting up their add to cart |
| 00:23:02 | 00:23:09 | with whatever trust badges they have |
| 00:23:05 | 00:23:12 | okay they're using this jiff of the item |
| 00:23:09 | 00:23:13 | in in motion here in the product |
| 00:23:12 | 00:23:16 | description how are they writing the |
| 00:23:13 | 00:23:18 | product descriptions okay they're using |
| 00:23:16 | 00:23:19 | reviews down here at the bottom related |
| 00:23:18 | 00:23:22 | items right like you're analyzing |
| 00:23:19 | 00:23:23 | everything on the product page because |
| 00:23:22 | 00:23:27 | you know that this is a store that's |
| 00:23:23 | 00:23:31 | doing well and and so that's one step of |
| 00:23:27 | 00:23:35 | the funnel next you would go add the |
| 00:23:31 | 00:23:37 | cart okay now we're looking at the cart |
| 00:23:35 | 00:23:40 | page and looking at what they're doing |
| 00:23:37 | 00:23:43 | here you notike they changed it to say |
| 00:23:40 | 00:23:45 | enter shipping address they have a trust |
| 00:23:43 | 00:23:47 | badge underneath here they have |
| 00:23:45 | 00:23:49 | frequently bought together and recently |
| 00:23:47 | 00:23:51 | viewed items at the bottom they have |
| 00:23:49 | 00:23:55 | free shipping highlighted here in the |
| 00:23:51 | 00:23:57 | subtotal okay so there they have certain |
| 00:23:55 | 00:23:59 | elements that they're using to try to |
| 00:23:57 | 00:24:01 | spice up the cart page and make it more |
| 00:23:59 | 00:24:04 | entiking to click through to the next |
| 00:24:01 | 00:24:06 | page okay because if you compare if you |
| 00:24:04 | 00:24:08 | compare this to other pages it's gonna |
| 00:24:06 | 00:24:10 | look different now this pops up and says |
| 00:24:08 | 00:24:12 | your cart has reserved for a certain |
| 00:24:10 | 00:24:14 | amount of time trying to create some |
| 00:24:12 | 00:24:15 | urgency they have to review is |
| 00:24:14 | 00:24:19 | highlighted here in the actual |
| 00:24:15 | 00:24:21 | description these are all details that |
| 00:24:19 | 00:24:22 | are important to note because they can |
| 00:24:21 | 00:24:27 | affect |
| 00:24:22 | 00:24:29 | conversions now you'll go through and |
| 00:24:27 | 00:24:31 | you'll click to the car page I'm not |
| 00:24:29 | 00:24:33 | saying you actually have to buy it but |
| 00:24:31 | 00:24:36 | again you're seeing how they're set up |
| 00:24:33 | 00:24:38 | okay they have their will go in the |
| 00:24:36 | 00:24:40 | secure checkout button up top and you |
| 00:24:38 | 00:24:42 | won't look at how you can set this up |
| 00:24:40 | 00:24:44 | later when we get to the Shopify store |
| 00:24:42 | 00:24:46 | section but I would actually at least go |
| 00:24:44 | 00:24:50 | through the process of putting in an |
| 00:24:46 | 00:24:52 | address putting in an address and |
| 00:24:50 | 00:24:54 | continuing the shipping method because |
| 00:24:52 | 00:25:00 | once you do this you're actually gonna |
| 00:24:54 | 00:25:02 | start getting there you you actually |
| 00:25:00 | 00:25:05 | start getting there abandoned cart |
| 00:25:02 | 00:25:07 | emails to write because here's what you |
| 00:25:05 | 00:25:08 | can do so you see their shipping method |
| 00:25:07 | 00:25:10 | right here right so now I see are a free |
| 00:25:08 | 00:25:12 | shipping estimated 7 to 10 business days |
| 00:25:10 | 00:25:14 | that's what they're not only does that |
| 00:25:12 | 00:25:16 | tell me their shipping method but it |
| 00:25:14 | 00:25:18 | tells me their general delivery time |
| 00:25:16 | 00:25:22 | right so they're generally delivery time |
| 00:25:18 | 00:25:24 | is 7 to 10 days so that's that's good |
| 00:25:22 | 00:25:26 | market intelligence on on how they're |
| 00:25:24 | 00:25:32 | operating their business okay and then |
| 00:25:26 | 00:25:35 | finally go to payment method ok I'm not |
| 00:25:32 | 00:25:37 | actually gonna pay but I'm this is as |
| 00:25:35 | 00:25:41 | far as I'm gonna take it right because |
| 00:25:37 | 00:25:45 | each one of these steps is a trigger in |
| 00:25:41 | 00:25:46 | their in their marketing campaign and if |
| 00:25:45 | 00:25:49 | you're new to this you'll understand |
| 00:25:46 | 00:25:52 | this a lot more later when we go through |
| 00:25:49 | 00:25:54 | this but basically now based on the |
| 00:25:52 | 00:25:57 | actions that I've taken when I leave |
| 00:25:54 | 00:25:59 | this site and I abandoned my cart that's |
| 00:25:57 | 00:26:01 | called an abandoned car now they're |
| 00:25:59 | 00:26:03 | gonna start showing me ads on Facebook |
| 00:26:01 | 00:26:05 | they're gonna start retargeting me and |
| 00:26:03 | 00:26:07 | trying to get me to come back to |
| 00:26:05 | 00:26:10 | purchase so I'm getting to see their |
| 00:26:07 | 00:26:12 | entire funnel I'm gonna get emails from |
| 00:26:10 | 00:26:14 | them saying hey come back to purchase |
| 00:26:12 | 00:26:15 | and in those emails so that will be |
| 00:26:14 | 00:26:18 | offers and I'll see what kind of offers |
| 00:26:15 | 00:26:20 | they're using and again all this stuff |
| 00:26:18 | 00:26:22 | is based on I knew that this store is |
| 00:26:20 | 00:26:24 | doing well right they have two million |
| 00:26:22 | 00:26:26 | visitors coming up I know that they've |
| 00:26:24 | 00:26:28 | probably figured out some things that I |
| 00:26:26 | 00:26:30 | haven't figured it out because must you |
| 00:26:28 | 00:26:33 | know my stores not getting two million |
| 00:26:30 | 00:26:34 | visitors a month then it's worth it to |
| 00:26:33 | 00:26:36 | go through their entire |
| 00:26:34 | 00:26:38 | processing gather as much information |
| 00:26:36 | 00:26:40 | and take notes on everything they're |
| 00:26:38 | 00:26:42 | doing all right so this is you know |
| 00:26:40 | 00:26:44 | requires some time and some effort and |
| 00:26:42 | 00:26:47 | some work but this is a really powerful |
| 00:26:44 | 00:26:50 | way that you can kind of catapult your |
| 00:26:47 | 00:26:52 | experience by seeing what's already |
| 00:26:50 | 00:26:54 | working for other people and and |
| 00:26:52 | 00:26:57 | modeling some of it I'm not saying |
| 00:26:54 | 00:26:59 | directly copy them but model it and you |
| 00:26:57 | 00:27:01 | know add your own personality to it add |
| 00:26:59 | 00:27:04 | your own branding to it and you're gonna |
| 00:27:01 | 00:27:06 | see how we develop this over time but at |
| 00:27:04 | 00:27:09 | this point we're just trying to gather |
| 00:27:06 | 00:27:11 | as much data as possible store that data |
| 00:27:09 | 00:27:13 | you know it that way you can go back and |
| 00:27:11 | 00:27:16 | reference it as you are setting up your |
| 00:27:13 | 00:27:18 | own store all right hope you enjoyed |
| 00:27:16 | 00:27:20 | this video and this is really powerful |
| 00:27:18 | 00:27:22 | stuff I think you probably got a lot of |
| 00:27:20 | 00:27:25 | value out of it for how you can do |
| 00:27:22 | 00:27:29 | competitive analysis of the marketplace |
| 00:27:25 | 00:27:29 | and I will see you in the next video |
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